The Accounts Receivable Solution from Acumen Data

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We'll go out on a limb here and assume you're in business to make a profit.

Of course, in order to do that you've got to get paid for the goods and services you provide.

But sometimes just knowing if you've been paid is difficult. So is figuring out exactly what that payment you received is paying for.

That happens a lot when payments show up with very little in the way of remittance advice accompanying them. Or if you get the remittance by email on a Monday and the payment doesn't arrive until Friday.

Trying to reconcile all this to meet your KPIs can be enough to make you wonder why you ever went into business in the first place.

But before you chuck it all for the life of a beachcomber, we suggest you look into our CAARS.

Introducing CAARS.

CAARS is short for Acumen Data's Complete Automated Accounts Receivable Solution. And it makes short work out of getting paid.

CAARS does that by reconciling information from multiple sources: email, postal mail, bank reports, etc. No matter how unstructured that information might be.

That's because CAARS uses advanced data-capture technology to grab information from both hard copy and soft. The captured information is then fed into CAARS' Business Rules Engine. Which operates on rules you specify.

The Business Rules Engine compares the data from multiple sources to find exact matches which can be exported to your financial software. The matches that fail the Engine's test are then passed to another smart engine, the CAARS Workflow Engine.

The Workflow Engine then routes the problem to the appropriate person in your organisation and tells that person what matched or didn't. It displays all the information that CAARS has been able to compile from the unstructured mess it started with.

Advanced technology

CAARS doesn't just use invoice numbers and amounts to get a match. It uses advanced logic to include other factors such as ABN on remittance advises and matching combinations of the amount outstanding to the best match.

The solution even keeps a history of the data it collects. Which means it will still find a match even if days go by between remittance and payment.

Your business. Your rules

CAARS' Business Rules Engine is what makes the solution so sweet. You simply tell it what criteria you want to apply to every transaction and it's applied.

For example, if you want to focus on large payments the Engine makes that happen. If you want to process the oldest payments first, the Engine does that.

Other so-called solutions for accounts receivable can't come close to doing that. Neither can financial software.

And other semi-solutions can't begin to address another important issue. Productivity. Or rather the lack of it in your Accounts Receivable Department.

Are productivity problems cutting into your profits?

As important as knowing the status of your receivables at any given moment there's another factor to consider.

And that's all the time your staff spend trying to match payments with remittance advices. Not to mention, wasting hours reviewing remittances that are problem-free.

CAARS does away with all that wasted time and effort. By completely automating the accounts receivable process.

Staff need get involved only when an advice doesn't match a payment. That non-match is automatically sent to the responsible staff along with information as to what did or didn't match.

CAARS' twin built-in engines – the Business Rules Engine and the Workflow Engine – see to all that.

Even more reasons to consider CAARS

  • CAARS is cloud-hosted. Which means you won't have to tie-up your servers or add staff to take advantage of it.
  • CAARS is the result of fifteen years of research with input from more than 800 organisations.
  • Like all Acumen Data Solutions, CAARS is based on software we created. Customising CAARS to meet your own specific needs is much simpler and less expensive because of that.
  • CAARS lets you know at any given time and at a glance the state of your receivables. Which helps you get an immediate handle on your company's overall finances.
  • CAARS is currently saving our clients' money in more than nineteen countries.
  • Before we consider recommending CAARS, we'll conduct an exhaustive and honest evaluation of your situation to determine if it's right for your company.
  • If it is, we'll get it up and running with a minimum of disruption. And provide training to your staff.
  • With CAARS, control improves, productivity improves, staff morale improves and profits follow the same positive pattern.

In sum ... We think you'll agree that running a business is tough enough without worrying about how your accounts receivable are running. Our suggestion, then, is to look into Acumen Data's CAARS. And see that you get what's owed to you.

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